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<br />RESOLUTION NO. <br /> <br />A RESOLUTION OF THE CITY OF REDWOOD CITY PUBLIC <br />FINANCING AUTHORITY AUTHORIZING THE ISSUANCE OF NOT TO <br />EXCEED $36,000,000 PRINCIPAL AMOUNT OF WATER REVENUE <br />BONDS, SERIES 2005A, AUTHORIZING AND DIRECTING EXECUTION <br />OF AN INDENTURE OF TRUST AND AN INSTALLMENT PURCHASE <br />CONTRACT, AUTHORIZING THE SALE OF BONDS PURSUANT TO A <br />NOTICE OF SALE, APPROVING AN OFFICIAL STATEMENT AND <br />PROVIDING OTHER MATTERS PROPERLY RELATING THERETO <br /> <br />WHEREAS, the Authority is a joint powers authority duly organized and existing <br />under and pursuant to that certain Joint Exercise of Powers Agreement dated as of <br />June 18, 1991, by and between the City of Redwood City (the "City") and the City of <br />Redwood City Redevelopment Agency (the "Agency"), and under the provisions of <br />Articles 1 through 4 (commencing with Section 6500) of Chapter 5 of Division 7 of <br />Title 1 of the Government Code of the State of California (the "Act"), and is authorized <br />pursuant to Article 4 of the Act (the "Bond Law") to borrow money for the purpose of <br />financing the acquisition of bonds, notes and other obligations of the City or the Agency <br />to provide financing and refinancing for public capital improvements of the City or the <br />Agency; and <br /> <br />WHEREAS, the Authority has determined that it is in the interests of the Authority <br />and the City at this time to provide for the financing of the acquisition and construction <br />of certain improvements (the "Project") to the City's water system (the "Enterprise"), as <br />described in the Installment Purchase Contract (defined herein); and <br /> <br />WHEREAS, in order to provide funds to finance the project, the Authority <br />proposes to issue its City of Redwood City Public Financing Authority Water Revenue <br />Bonds, Series 2005A, in the aggregate principal amount of not to exceed $36,000,000 <br />(the "Bonds"), pursuant to an Indenture of Trust (the "Indenture"), currently dated as of <br />February 1, 2005 between the Authority and The Bank of New York Trust Company, <br />N .A., as trustee (the "Trustee"); and <br /> <br />WHEREAS, the Bonds are to be issued pursuant to the Marks-Roos Local Bond <br />Pooling Act of 1985 (the "Act"), constituting Article 4 (commencing with section 6584) of <br />Chapter 5 of Division 7 of Title 1 of the California Government Code; and <br /> <br />WHEREAS, the Authority and the City propose to sell and sell-back the Project <br />as provided in the Installment Purchase Contract, currently dated as of February 1 <br />2005 (the "Installment Purchase Contract"), between the Authority and the City, for the <br />purpose (among others) of providing amounts sufficient to provide for the payment of <br />the principal of and interest on the Bonds and such Project being further described in <br />the Installment Purchase Contract; and <br /> <br />WHEREAS, in connection with the offering of the Bonds, the Authority and the <br />City have caused to be prepared an Official Statement describing, among other things, <br /> <br />Atty/Reso/Reso.151 0 <br />010305 <br /> <br />1 <br />